RaySearch and Siemens dissolve partnership

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In May 2009 RaySearch Laboratories AB (publ.) entered into a long-term development and licensing agreement with Siemens Healthcare. Under the agreement RaySearch provided a number of treatment planning modules for integration in Siemens’ syngo® Suite for Oncology, which is Siemens’ integrated workflow solution for radiation therapy.

RaySearch and Siemens have now agreed to terminate the development and licensing agreement and end the partnership.

Under the termination agreement, Siemens will pay RaySearch a onetime fee of approximately one million Euros and provide certain IP rights to RaySearch. This fee will be recognized in the fourth quarter of 2012 but the earnings impact will be lower due to a write-down of the capitalized development costs for the software that was developed specifically for Siemens and is not reusable in any other product.

About RaySearch
RaySearch Laboratories is a medical technology company that develops advanced software solutions for improved radiation therapy of cancer. RaySearch’s products are mainly sold through license agreements with leading partners such as Philips, Nucletron, IBA Dosimetry, Varian and Accuray. To date, 15 products have been launched through partners and RaySearch’s software is used at over 2,000 clinics in more than 30 countries. In addition, RaySearch offers the proprietary treatment planning system RayStation® directly to clinics. RaySearch was founded in 2000 as a spin-off from Karolinska Institutet in Stockholm and the company is listed in the Small Cap segment on NASDAQ OMX Stockholm.

For more information about RaySearch, visit www.raysearchlabs.com

For further information, please contact:
Johan Löf, President and CEO, RaySearch Laboratories AB
Telephone: +46 (0)8-545 061 30
johan.lof@raysearchlabs.com

About Us

RaySearch Laboratories AB (publ) has been pushing the limits of advanced cancer treatment since 2000. Using progressive algorithms, RaySearch develops world leading software used by thousands of the most cutting-edge cancer clinics in the world. The algorithms are based upon founder and CEO Johan Löf’s scientific knowledge, acquired during his PhD on radiation treatment of moving tumors at the Karolinska Institute. The treatment planning system RayStation and the OIS RayCare are the result of extensive development during years of research, and today used to improve chances of survival and quality of life for cancer patients. We fight for a world where cancer is conquered.

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